Friday Trade Review and some Big Mouth details 2/27/2009

I only had time to make one trade today and decided to pick the Big Mouth Stock. I screwed this up in one of two ways - either I was not aggressive enough or I was too aggressive. The stock PBT started to pop to the area I want to get short. The plan would be either short and add to it as it went up (the aggressive way) or wait until it short some pause in it move up and short like crazy there (the less aggressive way).
-
I started shorting on the way up but stopped and allowed fear to take over. I shorted at 9.09 and 9.29 and it moved all the way up to 9.64 before retreating. I should have been adding to my short if I was going to start out aggressive. PBT fell to 9.20 then popped back to 9.50 made one more decline to 9.11 before it was off to the races peaking at 10.
-
Big Mouth stocks seem to have 3 ways about them. They simply decline or they pop and decline or they pop and never look back. You need to determine this based on the action between 9:25 and 9:32. Not easy at all but based on stats you know that 60% will just decline. 35% will pop and decline. And last 5% will hand you your head if you are not careful.
-
For the first group, you must get aggressively short in seconds. The second you either be aggressive or not but if you are aggressive, this will then cover your trading for 95% of the time. And a course the last you need to not aggressive but that would be hard to do if you are aggressive 95% of the other time.
-
My hope on this trading method is when the stock just falls, you will win nearly 100% of the time and have a couple of big winners. When the bounce and fall happens, you should have a split of winners and losers. The last category hopefully you will not lose too much.
-
You can look at some of my previous postings on how to enter Big Mouth Stocks. Basically you look to the one to three stocks that get most of the attention in After Hours after the big mouth has roared. Use the price peak and where it closes out and your guide posts to enter and judge the market the next day based on how they act.
-
There is a method to my madness but many people would just say I am throwing darts at a dart broad.
-
Why am I writing about this today? I felt the need to refresh my brain on why I do what I try to do. The last two weeks, I have lost more money trading in two weeksan any two week period in the last 15 months. I need to get my shit together and stop trading out of fear or out of anger.
-
The numbers:
Stocks: gross -330 net -340 shares 2000
Stock Futures: none
Forex: none

Thursday Trade Review 2/26/2009

First trade I screwed up and I was toast for the rest of the day. It is sad, very sad, because if I had kept my brain together, I got into what could have been my best trade in months. Instead, I got scared away because my head was not on straight.

-

The details are on the charts.

-

Numbers:

Stocks: gross -492 net -565 shares 14,400

Stock Futures: none

Forex: none

Wednesday Trade Review - NONE 2/24/2009

This big mouth stock would have worked out great. I had too many crazy things happening. I did have orders in to short at 29.05 and 29.20 expecting a bigger pop but did not get filled on the openning. By the time I did look, HON was already dropping fast and too hard to chase.

Tuesday Trade Review 2/24/2009

Another day of repeating the same mistakes over and over. Every day I tell myself I am going to trade aggressively when I see my trades. I am not going to chase. I am not going to trade for the hell of it. I am not going to get insane with size. And the one that drives me crazy is, I will sit on my hands and not be a chicken. Again I was a chicken for the 355th time out of the last 358th trading days. A person in the chat room put it a simple way, you sound like a broken record.
-
And what, I am. I do not knew what has broke in my brain. Years ago, I had no problem taking risks and at times insane risks. I am sick of myself.
-
The numbers:
Stocks: gross + 75 net +34 shares 8200
Stock Futures: none
Forex: none

Monday Trader Review 2/23/2009

I could only look at the market for a short while. Two quick trades in JPM and little to show for it.
-
The numbers:
Stocks: gross +36 net +26 shares 2000
Stock Futures: none
Forex: none

Friday Trade Review 2/20/2009

Just plain stupid. The last couple of weeks have been crazy with Valentines and birthdays and other stuff. I did not get to my numbers last and IB is not showing statements for Friday yet. I will update it when I got the numbers. IB had problems allow anyone to short anything on the open yesterday which really threw me off. I made a couple of trades but it was a stupid day of trading on impulse than anything else. I think I lost about 50 on 3 or 4 trades.
-
The market is just depressing. I guess the economy is depressing. I have suddenly so many friends losing jobs that I did not think they would. I know so many many people that have just gotten frustrated with their accounts where they did crazy things and have blown up. Too many too count both day trading and swing trading.
-
With all I know about the markets and how they work, I feel just plain stupid - so very stupid.
-----------------------------------------------------------------------
Sunday Night Update:

The Numbers:
Stocks: gross -26.15 nets -45.15 shares 3450
Stock Futures: none
Forex: none

Thursday Trade Review 2/19/2009

I am posting this late because last night was my wife's birthday party and I can't seem to get my charts to work. My trading sucked in a nut shell. It really seems like you should fight break outs and break downs which is the opposite of how I trade.
-
This works with my big mouth plays where you are going against the crowd.
-
My first trade was going long RIMM and I picked the top perfectly. It declined fast enough were I did not have stop in fast enough and I tried to sell a bounce. Did not get it. The loss should have been $100 instead $275. My day was a mess from there.
-
I seem to have one mess up day a month and yesterday was it.
-
The numbers:
Stocks: gross -312 net - 346 shares 5300
Stock Futures: none
Forex: none

Tuesday "hit the bid" Trade Review 2/17/2009

Hit the f-ing BID! If I just lowered my order on AXYS, I would have the full 500 shares. Also I should have sat on my hands a little longer for a bigger profit. On BSX, my non-action was just plain stupid. I need to hit the bid when you see there is no pop and the futures were done huge. Both of those stocks were Big Mouth stocks. The other charts have the rest of my trades. Not much to speak of.

-

The Numbers:

Stocks: gross +196 net +175 shares 3300

Stock Futures: none

Forex: none

Stimulis: Because all economies have performance issues

The Video says it all.

Friday Trade Review 2/13/2009

A pissy day to end a pissy week that was filled with pissy things happening, so I am in a pissy mood and is going to bed.
-
The numbers:
Stocks: gross -17 net -28 shares 2000
Stock Futures: none
Forex: none

Thursday Trade Review 2/12/2009

Another piss-ass day of trading. I only made two trades and it is not worth typing about. Just when I was about to enter my third, the Internet then went out and killed the rest of the day.
-
The numbers:
Stocks: gross -61 net -71 shares 2000
Stock Futures: none
Forex: none

Wednesday Trade Review 2/11/2009

I was playing around with the order entry of IB. I accidently sold short the Pound. I covered a few moments late with a small gain - idiot.
-
The numbers:
Stocks: none
Stock Futures: none
Forex: gross +25 net +20 1 full contract

Tuesday Trade Review 2/10/2009

None - normally I trade at a minumin Tuesday and Thursday mornings but life threw me a curve ball just before the open and I just could not trade.I really wished I had the opprotunity to seeing what I would have done during Timmies little crash.

Love

Surprised. Last night my other half came home late and told me milk had spilled all over her trunk of her car. She was pissed. We cleaned it up and as things went on she yell at me and said "go down stairs to your man cave, play with your stock market stuff and leave me alone". Jesus, I was only trying to help as I went down stairs with my tail between my legs.
-
About 30 minutes later, she tells me to come up for dinner. To my surprise there was a candle light dinner awaiting me in the dinning room. We usually eat dinner in front of the TV. The dinner was a rib take out meal that I had been talking about for weeks. The candles were candles I used on our first candle light dinner I had made for her over 10 tens ago. I never even knew she had caught them. She did this last night to make sure I was surprised.
-
My heart melted. I am so so so lucky.

I hate this. 2/9/2009

This is a 10 tick chart of MET meaning each bar is 10 changes in price.
-
I really feel snake bitten. The morning high was 31.95 and I wanted to buy a break of 32. I got filled. My initial idea of a stop was 31.50 but after MET moved to over 32.20, I move the stop to 31.81. The stock came down perfectly and took my stop out before going about 60 cents higher.
-
This is the 4th or 5th time in one week a stop has been taken out by a tick or two. Please no one give me the crap about this being part of the game and that other shit. It has been a longtime since I have had so many of these happen in such a short period of time and it is pissing me off. Anyway this is my blog and I will whine if I want to. PPPPPPPHHHHHHH.

I think too f-ing much 2/9/2009

This shit drives me crazy. You plan the trade then trade the plan - right? PBI was a big mouth stock. It made a couple of trades close to 25 last night in after hours once the mouth roared. I wanted to start a short position at that area. Just before the open a bid of something like 4500 around 24.90 and 24.95 showed up. Just perfect but with no asks above the price the stock looked like it could open as high as 25.50. Did I take a start position - NO! When it opened, the bid was taken out, then the next trade was 60 cents lower and quickly you could have had a 90 cent gain. Dummy me.
-
I thought someone knew something I didn't. I think too much.

Monday Trade Review 2/9/2009

Monday did not go well for me. I should have left the big mouth stocks until the open but I played around with GMXR in premarket and got myself so frustrated, I could not see straight by the open. I also miss the other big mouth PBI. You can see the other post. And then in another post, my big pisser of the day - MET.
-
The numbers:
Stocks: gross -138 net -169 shares 5800
Stock Futures: none
Forex: none

January Monthly Numbers

My January monthly numbers:
-
Wins: 53 Losses: 30
Avg Win: 30.15 Avg Loss: -54.97
Gross Trading: 479.00
Commissions: -450.46
Net Trading: 28.54
Biggest Win: 185.00 Biggest Loss: -210.00
Data Fees: -167.95
Interest: 0
Account Net: -139.41

Friday Trade Review 2/6/2009

I only got to a short time Friday but made the most of the rally. I missed RIMM but turned around and went long QLD. Late in the day, I thought RIMM was going to break out again, went long, and it didn't. I lost about 20% of my profits there.

-

The numbers:

Stocks: gross +267 net +257 shares 2000

Stock Futures: none

Forex: none

Thursday Trade Review 2/5/2009

I stupid day of trading you me. I should have not traded at all. Too many people in the house. Finally got the floor done from the water damage back in October. My would of, should of, could of account made a ton of money but what I really did, I feel very stupid today. My first trade was out of frustration and I took a fast lost (EWZ). My mental day went down hill from there.

-

The numbers:

Stocks: gross -131 net -155 shares 4400

Stock Futures: none

Forex: none

Wednesday Trade Review 02/04/2009

I only made one trade today. Had problems getting the trade executed. Why? - I have no idea. The trade worked perfectly. My only complaint was I had small size on because of the order problem. This months results are heaven so far. Only 4 trades - all 4 are winners and $400 in profits.
-
The numbers:
Stocks: gross +116 net +114 shares 400
Stock Futures: none
Forex: none

Tuesday Trade Review 2/3/2009

A good day but a frustrating day too for me. I only made 3 trades but all 3 were for the good. The 1st and 3rd charts are the big mouth plays. I did get FSYS as a short but my goal was to be short 600 shares and I only got 250 off. MHS I missed all together and I wanted to do 1000 there. On FSYS, I had stop a few cents too close and left a lot of money on the time.

-

When I did get out of my shorting the big mouth stocks mode, I did play RIO. I shorted when it failed at the HOD but did not get much. I am glad I had a tight stop but I am pissed I did not go long once it did got thru the HOD. I then went long MHS. I like this trade because I took a long time to get in and I had patience. But I failed when I had made stop too close.

-

I missed a couple of other trades that pissed me off. Both yesterday and today, I really felt I was seeing the market clearly but did not take true advantage of it.

-

My other method of dealing with big mouth stocks is, if after 10:30 they show strength and take out their HOD, they become long candidates.

-

The numbers:

Stocks: gross +282 net +262 shares 2700

Stock Futures: none

Forex: none

Monday Trade Review 2/2/2009

Usually I have time to place a trade or two on Mondays but I was in too bad of mood to trade. It just was not a good morning and too bad for most of my calls in the chat room worked out good.